Sears Canada Going Out of Business
If Sears is your go-to department store, you might need to find another place to shop.
Sears Canada just announced that they're throwing in the towel and closing up shop after struggling to find a buyer since June 22, the Toronto Star reports.
The closure means about 12,000 people will be out of jobs. The first 800 will be from the head office near Dundas Square. This will start happening next week, and the liquidation sales will begin Oct. 19.
In total, they expect the closing transition to take between 10-14 weeks.
Sears has announced that they are saddened by the resulting outcome of the closures. They have already closed 59 stores and were hoping they wouldn't have to close more.